A short spoken excerpt advising business creators (specifically video-makers) to niche down: being specific lets you charge more, reduces competition, and shifts you from commodity pricing to a "category-of-one" that commands higher prices because of demonstrable expertise.
Alright, so why niche down? Well, the number one reason is like if you have a bunch of people saying we create videos for businesses, right? But then you have one person that says we create a specific type of video for companies, who do you think is going to be able to charge more? Right. It's the same thing as the general practitioner versus the person who is specific in one category. The other side of this too is that it fundamentally eliminates more of your competition, so it makes it easier for you to charge more. Get out of commodity based pricing and more so get into category of one based pricing where you can price higher for the same thing because you have a specific expertise.
